Intercontinental Exchange (ICE) Released a List of its Favorite Cryptocurrencies; Same ‘Tokens’ To Be Included in Bakkt As Well?

Intercontinental Exchange (ICE) Released a List of its Favorite Cryptocurrencies; Same ‘Tokens’ To Be Included in Bakkt As Well?

ICE (Intercontinental Exchange), the parent company of the NYSE (New York Stock Exchange) has initiated a research unit for 58 cryptocurrency projects and 19 FIAT currencies.

ICE, in partnership with Blockstream, has established the ‘Cryptocurrency Data Feed’, which will provide with real-time and historical data of cryptocurrency prices from all over the world. Nevertheless, it has selected only 2.75% of the total number of cryptocurrency projects in the market.

Cryptocurrency Projects Included in the Data Feed

The entire list of cryptocurrencies added to the Data Feed can be obtained here. The Data Feed would provide a real-time thorough analysis of 58 cryptocurrencies on its official website.

Moreover, widespread inclusion of only 58 cryptocurrencies from a total of 2106 projects would narrow down the targets of the investors. However, at the same time could hurt the altcoin markets and exchange volumes in the short term.

Some of the notable cryptocurrencies from the list are:

Stable Coins: The stable coins which will be added to the list are USD coin, TUSD, Tether, and Gemini Dollar.

High Market Capitalization ‘tokens’: Despite the cryptocurrency markets being highly volatile a couple of projects have cemented their position and were rightfully included in the data. These included: Ether (ETH), Litecoin (LTC), Cardano (ADA), Monero (XMR), NEM, Ripple (XRP), Stellar (XLM), and NEO

Huobi Included But No Binance (BNB) Coin: In exchange related token Huobi was included however Binance (BNB) coin was included.

Bitcoin Cash (BCH), BSV, Bitcoin Gold and Ethereum Classic (ETC) the infamous hard forks from Bitcoin and Ethereum were also included in the list.

Providing a Global Data Base For Cryptocurrencies

Due to their decentralization, Cryptocurrency Exchanges have become ubiquitous in the world. However, there is no authorized metrics that would give out authentic real-time data. Hence, ‘price discovery’ becomes a significant challenge due to a multitude of avenues.

The ICE data would provide insight on the project along with increasing the efficiencies for its traders. It would also facilitate pricing evaluation through proper surveillance and portfolio managers with statistics that will enable the crypto-assets to be traded between peers or customers directly.

While dealing with currencies, volatility and protection against adverse market movements is of prime importance to import/export traders and investors. Hence, the ‘global coverage’ would enable hedge funds to manage their risks better.

Expectations from the Bakkt Platform

The Bakkt Platform will be one of the first institutionally backed cryptocurrency trading platforms. Hence, the number of cryptocurrencies expected to be included in the initial phases was limited. However, the data feed suggests that the Bakkt Platform might consist of more than just a few cryptocurrencies like Bitcoin, Ethereum and Litecoin.

Summary

Article Name

ICE Released a List of its Favorite Cryptocurrencies; Same 'Tokens' To Be Included in Bakkt As Well?

Description

ICE (Intercontinental Exchange), the parent company of the NYSE (New York Stock Exchange) has initiated a research unit for data research and price recordkeeping of 58 cryptocurrency projects and 19 FIAT currencies.

Author

Nivesh Rustgi

Publisher Name

CoinGape

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Disclaimer
The presented content may include the personal opinion of
the author and is subject to market condition.
Do your market research before investing in cryptocurrencies.
The author or the publication does not hold any responsibility
for your personal financial loss.

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com